Canadian Tire (TSE:CTC.A) Price Target Raised to C$199.00 at Jefferies Financial Group

Key Points

• Jefferies raised Canadian Tire’s price target to C$199 from C$179, implying approximately 0.17% upside from the prior close.
• Analyst sentiment remains mixed: the stock has three Buy and six Hold ratings, with a consensus target price of C$202.91.
• Canadian Tire shares traded at C$198.67, while the company reported quarterly EPS of C$2.02 and revenue of C$3.57 billion.

Canadian Tire (TSE:CTC.A - Get Free Report) had its price target upped by Jefferies Financial Group from C$179.00 to C$199.00 in a research note issued to investors on Friday,BayStreet.CA reports. Jefferies Financial Group's price objective would suggest a potential upside of 0.17% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada raised their price objective on shares of Canadian Tire from C$216.00 to C$218.00 and gave the stock an "outperform" rating in a research note on Monday. Desjardins upped their target price on shares of Canadian Tire from C$200.00 to C$217.00 and gave the company a "buy" rating in a research note on Tuesday. National Bank Financial reduced their price target on shares of Canadian Tire from C$210.00 to C$209.00 and set a "sector perform" rating for the company in a report on Friday. Stifel Nicolaus raised their price target on shares of Canadian Tire from C$115.00 to C$220.00 and gave the stock a "buy" rating in a research report on Friday. Finally, BMO Capital Markets cut their price objective on shares of Canadian Tire from C$194.00 to C$185.00 and set a "market perform" rating for the company in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$202.91.

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Canadian Tire Stock Performance

TSE:CTC.A traded down C$1.63 during mid-day trading on Friday, hitting C$198.67. 39,932 shares of the company's stock traded hands, compared to its average volume of 227,019. The firm has a market capitalization of C$10.45 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.35 and a beta of 1.04. The firm has a 50 day moving average of C$194.70 and a two-hundred day moving average of C$188.13. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. Canadian Tire has a 12 month low of C$159.20 and a 12 month high of C$208.08.

Canadian Tire (TSE:CTC.A - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The company had revenue of C$3.57 billion for the quarter. On average, equities analysts forecast that Canadian Tire will post 13.638961 earnings per share for the current fiscal year.

About Canadian Tire

Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, "CTC") has been a proudly Canadian business since 1922. Guided by its brand purpose, "We are here to make life in Canada better," CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada's strongest workforces - employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life's pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark's, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players.

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